That sent the yield on the 10-year Treasury up to 4.43% from 4.36% late Thursday. Higher yields can tug down on prices for stocks and other investments, while making it more expensive for U.S. companies and households to borrow money.

FRANKFURT, Germany (AP) — Oil surged, stocks fell and investors sought safety in the U.S. dollar and government bonds Friday after Israel struck Iranian nuclear and military targets in an attack that raised the risk of war between the two countries and broader instability in the Middle East.

Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.

At the moment, the impact on U.S. energy prices of Israel’s strikes on Iran is muted. That could change if the conflict escalates.

US and Brent crude prices jumped on fears of supply disruption from the Middle East as Iran has repeatedly threatened to close a key shipping route.

Oil prices surged, stocks dropped and investors flocked to safe havens like gold on Friday after tensions between Israel and Iran escalated, stoking concerns of a broader conflict in the region.

As tensions escalate between Israel and Iran, North Texas energy experts are closely monitoring the impact on global oil markets — and warning that rising prices at the pump may not be far behind.

The strongest action was in the oil market, where the price of a barrel of benchmark ... the situation was not escalating and there was no impact on oil supply,” according to Richard Joswick ...

Some calm is returning to Wall Street, and U.S. stocks are rising on Monday, while oil prices are giving back some of their initial spurts.